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Former CFPB attorney reacts to possible ban on lender title insurance fees
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Consumer Protection
Tuesday, April 16, 2024
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The Consumer Financial Protection Bureau (CFPB) has not confirmed nor denied reports that it is considering prohibiting mortgage providers from charging homebuyers for lenders’ title insurance policies. Former CFPB attorney Richard Horn, co-managing partner at Garris Horn PLLC, offered his take and urged lenders to pay close attention to the agency’s request for information on closing costs.
The information continues to fuel industry concerns that regulators are targeting settlement services in an attempt to lower housing costs for consumers, potentially increasing lending risks.
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